World News – United States – Computer Company Co-Founder’s Fortune Takes $ 2.4 Billion In One Day

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The fortune of SAP SE co-founder Hasso Plattner fell by $ 2.4 billion on Monday after pandemic lockdowns forced the enterprise software maker to cut its revenue forecast for the year

Shares of German firm Walldorf fell 23%, its biggest intraday decline since 1996 Plattner, 76, is the seventh richest person in Germany with a net worth of $ 13.6 billion, according to the Bloomberg Billionaires Index About two-thirds of his wealth is made up of SAP stocks

Uncertainty over the economy and the likelihood of a new wave of Covid-related lockdowns have prompted SAP to push back its targets for total revenue, cloud revenue and operating profit from ‘a year or two, according to a statement

Plattner, a programmer, quit a job at IBM Corp started his first software company in 1972 and made SAP Europe’s most valuable technology company He creates software that helps client companies manage their operations, from payroll to expenses to travel requests He was co-managing director of the company until 2003 and is now chairman of the supervisory board

Plattner’s loss wiped out all of his wealth gains for 2020 Until Monday, his net worth had increased 65%, or $ 975 million, since January Overall, the richest 500 people in the world world have increased their collective fortune by $ 960 billion since the start of the year until Friday

This story was posted from an agency feed without any text change. Only the title has been changed

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SAP, Hasso Plattner, BusinessObjects, 1,000,000,000

World News – United States – IT company co-founder fortune plummets by $ 2.4 billion in one day


SOURCE: https://www.w24news.com

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